05
Feb
11:22
Severstal to build Russian OCTG plant with Tenaris
Russian vertically-integrated steel producer Severstal and pipemaker Tenaris are forming a joint venture to manufacture welded and OCTG pipe in Russia’s West Siberian Surgut. Severstal will have a 51% interest and Tenaris a 49% stake in the new company.
The $240 million investment will take two years to complete before commissioning of the 300,000 tonnes/year production of welded OCTG pipe for the Russian and neighbouring markets. Severstal will suppl…
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